Sen. Ted Budd

Maddy summaryThis bill (S 3832) creates new Medicare Part D coverage rules for specific non-opioid pain management drugs starting in 2025. It requires Medicare plans to waive deductibles and place these drugs on the lowest copay tier for beneficiaries, while banning step therapy (forcing opioid use first) and prior authorization for them. The bill applies to Medicare Part D beneficiaries seeking pain treatment and directly affects Medicare plans' coverage rules. To qualify, drugs must be FDA-approved for pain, non-opioid, have no equally effective alternative drug available, and meet cost limits set by the government.

Maddy summaryThis bill (S 3812, the FIREARM Act) changes firearm licensing enforcement by requiring the Attorney General to give licensees (like dealers) 30 business days to correct self-reported violations before taking action to revoke or deny license renewals. It adds a new 10-day judicial review option: licensees can bypass a hearing and request a federal court review of a revocation notice, with the revocation stayed during the court process. The bill also clarifies that minor or clerical errors are not considered "willful" violations and defines "self-reported violation" as one a licensee discloses before the Attorney General discovers it. These changes directly affect firearm license holders and the enforcement process under federal law.

Maddy summaryThis bill requires the Securities and Exchange Commission (SEC) to create rules allowing financial institutions (like investment companies, brokers, and advisers) to deliver important investor documents - such as prospectuses, account statements, and privacy notices - electronically instead of by paper. It mandates specific safeguards, including initial paper notices for investors, a 180-day transition period, annual paper reminders about opting out of electronic delivery, and requirements for reliable delivery and document readability. The SEC must finalize these rules within one year, and institutions may use electronic delivery immediately if the SEC misses the deadline. The law does not change the content or timing of required disclosures, only how they are delivered to investors.

Maddy summaryThis bill prohibits the Federal Reserve and Treasury from issuing or using central bank digital currency (CBDC) - a digital form of U.S. dollars backed by the Federal Reserve. It bans the Fed from offering CBDC directly to individuals or indirectly through banks (Section 2-3), prevents using CBDC for monetary policy (Section 4), and requires congressional approval for any future CBDC issuance (Section 5). The law explicitly protects existing physical currency and open digital payment systems that preserve privacy (Section 6). It directly affects the Federal Reserve System and Treasury, restricting their ability to develop or deploy digital currency without new legislation.

Maddy summarySRES 553 is a ceremonial Senate resolution honoring Jean A. Carnahan, who served as Missouri’s first female U.S. Senator from 2001 to 2002 after her husband’s passing. The resolution expresses the Senate’s sorrow over her death, recognizes her service as First Lady of Missouri and U.S. Senator, and her advocacy for families and veterans. It directs the Senate Secretary to share the resolution with the House and Carnahan’s family, with no substantive policy changes or affected parties. This is a standard commemorative measure with no legislative impact.

Maddy summarySRES 550 is a symbolic Senate resolution designating February 2024 as "Career and Technical Education (CTE) Month" to recognize the value of CTE programs. It does not create new laws or funding but formally supports CTE's role in preparing students for high-demand careers through secondary and postsecondary training. The resolution encourages educators and parents to promote CTE as a respected educational pathway, aligning with the Senate's recognition of CTE's importance for workforce development and economic competitiveness. As a procedural resolution, it has no binding effect but expresses bipartisan support for CTE initiatives.

Maddy summaryThis bill prohibits the FAA from requiring medical certificates for pilots operating unmanned aircraft (drones). It specifically removes the current requirement for first-class, second-class, or third-class medical certificates for drone pilots, which are currently mandated for manned aircraft pilots. The bill directs the FAA to consider recommendations from a specific committee when developing medical qualification standards for drone operations. This change directly affects drone operators, particularly those with physical disabilities who may not require the same medical accommodations as manned aircraft pilots.

Maddy summarySJRES 59 is a joint resolution that would disapprove a rule by the Securities and Exchange Commission (SEC) treating its Staff Accounting Bulletin No. 121 (SAB 121) as a binding regulation. The SEC had submitted this rule for congressional review under the Congressional Review Act, and the resolution would block it from taking effect. If enacted, the disapproval would prevent SAB 121 from being enforced as a regulation, meaning public companies would not be required to follow it as a legal rule. The bill directly affects the SEC's regulatory authority and the accounting practices of public companies.

Maddy summaryThe Sound Science for Farmers Act of 2024 requires the Environmental Protection Agency (EPA) to consult with agricultural stakeholders before issuing environmental regulations that may impact farming. Specifically, for risk assessments or regulations affecting agriculture, the EPA must share drafts with the Department of Agriculture, FDA, and Small Business Administration for 90 days and have them reviewed by a new agriculture committee for scientific quality and real-world farm impacts. The EPA must also notify relevant congressional committees and report on the review process before finalizing such rules. This bill directly affects how the EPA develops environmental regulations related to farming, food safety, and agricultural operations.

Maddy summaryThe Investment Opportunity Expansion Act amends federal securities law to create a new criterion for individuals to qualify as "accredited investors." It allows an individual to meet the threshold if, for a single investment transaction, their total investment in private securities (without a public offering) does not exceed 10 percent of the greater of their net assets or annual income. This change would expand eligibility for private investment opportunities beyond traditional income or net worth requirements. The bill directly affects individuals seeking to invest in private securities and the financial institutions offering such investments.